It is a well-known fact that the CA exams are among the toughest to crack. But many people bravely aspire to clear these exams.
For people who have cleared the foundation and intermediate stages, only the final exam remains. The CA final test series May 2021 will soon be taking place. Thus, the candidates appearing for the final may be panicking as the final date draws closer. Clearing the exams may be difficult, but it is not an impossible task. With the right strategy, anyone can successfully clear the final stage and fulfil their dream of becoming a chartered accountant.
Here are some last-minute tips for candidates sitting for the CA Final Test Series May 2021.
- Balance theory and practical
Studying theory for the entire day may make the person quickly lose interest. On the other hand, ignoring the theory behind the practical subjects is also not a good option. For subjects like FR and costing, one should give equal importance to theory and practical portions. Thus, while making the study plan, one should strike a balance between the theory and practical.
- Focus on the amendments
The ICAI has a history of checking if the candidates are up-to-date regarding the amendments. Thus, one can anticipate questions on amendments to take up a significant portion of the final paper. Those aiming to pass with a higher rank should keep themselves updated with the latest laws and provisions, especially in papers such as FR, DT, IDT and Law.
- Simplify ISCA portions
For many candidates, ISCA happens to be the subject that prevents them from clearing the exam. It is because ISCA has numerous technical terms which are difficult to remember and recall. For ISCA, experts recommend using the standard mnemonics. This way, the subject which is seen as a weak point, can become easier.
- Which groups to attend?
Before attempting the CA final test series in May 2021, the candidate should decide whether to attempt a single group or both groups. One should choose both the groups in a single attempt only if one has thoroughly prepared for it. If not, it is better to attempt a single group. The candidate can then utilize the next six months to prepare well for the other group.
A few mistakes to avoid
- Partial preparation
Some candidates fail to clear the final stage of the exam because they neglect the less important chapters. Studying only those chapters from which highly predictable questions are asked is not a good strategy. Make sure to focus on all the chapters.
- Neglecting the past papers
Regardless of the time and efforts that the candidate puts in preparation, one cannot truly know how well one has prepared without attempting mock test papers/previous years question papers. Write and practice. And make sure to complete the practice papers within the stipulated time.
The CA final exams have at most a 10% pass percentage. Thus, only candidates who religiously prepare for the exam and remain unswayed by distractions clear the exam.